Permanent Global Notes Clause Samples
The Permanent Global Notes clause establishes the use of a single, global certificate to represent the entire issuance of certain securities, such as bonds, in the international market. Instead of issuing individual paper certificates to each investor, the issuer creates one or more global notes that are held by a common depositary, typically for a clearing system like Euroclear or Clearstream. This arrangement streamlines the settlement process, reduces administrative costs, and minimizes the risk of lost or stolen certificates, thereby enhancing efficiency and security in the handling of large-scale securities issuances.
Permanent Global Notes. Each permanent Global Note will be exchangeable, free of charge to the holder, on or after its Exchange Date in whole but not, except as provided under “Partial Exchange of Permanent Global Notes”, in part for Definitive Notes or, in the case of 2.3
Permanent Global Notes. Each Permanent Global Note shall:
(a) be in substantially the form set out in Schedule 2 (Form of Permanent Global Notes);
(b) have the Conditions attached thereto, or incorporated by reference therein; and
(c) be executed manually or in facsimile by or on behalf of the Issuer and authenticated manually by or on behalf of the Agent.
Permanent Global Notes. Each permanent Global Note will be exchangeable, free of charge to the holder, on or after its Exchange Date in whole but not, except as provided under “Partial Exchange of Permanent Global Notes”, in part for Definitive Notes or, in the case of 2.2 below, Registered Notes:
2.1. if the permanent Global Note is an Exchangeable Bearer Note, by the holder giving notice to the Fiscal Agent of its election to exchange the whole or a part of such Global Note for Registered Notes; or
(1) if the permanent Global Note is held on behalf of Euroclear or Clearstream, Luxembourg or the CMU Service or any other clearing system (an “Alternative Clearing System”) and any such clearing system is closed for business for a continuous period of 14 days (other than by reason of holidays, statutory or otherwise) or announces an intention permanently to cease business or in fact does so or (2) if principal in respect of any Notes is not paid when due, by the holder giving notice to the Fiscal Agent (or, in the case of CMU Notes, the CMU Lodging Agent) of its election for such exchange. In the event that a Global Note is exchanged for Definitive Notes, such Definitive Notes shall be issued in Specified Denomination(s) only. A Noteholder who holds a principal amount of less than the minimum Specified Denomination will not receive a Definitive Note in respect of such holding and would need to purchase a principal amount of Notes such that it holds an amount equal to one or more Specified Denominations.
Permanent Global Notes. The Permanent Global Notes of each class shall be substantially in the form as set out in Part II to the First Schedule of the Trust Deed. The Issuer shall deliver to the Principal Paying Agent on or before the Closing Date the Permanent Global Notes (duly executed on behalf of the Issuer).
Permanent Global Notes. The Issuer undertakes that the unauthenticated Permanent Global Notes (duly executed manually or in facsimile by the Issuer) will be made available to or to the order of the Principal Paying Agent not later than 10 days before the Exchange Date for exchange by the Principal Paying Agent for interests held in the Temporary Global Notes in accordance with the terms of the Temporary Global Notes.